DEARBORN, MI— Gas prices in Michigan are up 4 cents compared to last week. Michigan drivers are now paying an average of $3.16 per gallon for regular unleaded. This price is 24 cents less than this time last month and 23 cents less than this time last year.
Motorists are paying an average of $47 for a full 15-gallon tank of gasoline; a discount of about $11 from 2023's highest price last August.
According to new data from the Energy Information Administration (EIA), gas demand rose slightly from 8.83 million b/d to 9.15. Meanwhile, total domestic gasoline stocks fell from 213.6 million barrels to 210.9, while gasoline production decreased last week, averaging 9.7 million barrels daily.
At the close of Wednesday’s formal trading session, WTI rose by $1.40 to settle at $68.61 a barrel. The EIA reports that crude oil inventories decreased by 0.5 million barrels from the previous week. At 425.5 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
"Increasing demand, alongside decreasing gasoline stocks, have some Michigan motorists seeing slightly higher prices at the pump," said Adrienne Woodland, spokesperson, AAA-The Auto Club Group.
Compared to last week, Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $3.17 per gallon, about 3 cents less than last week’s average and 23 cents less than this same time last year.
Click here to view AAA's state and metro gas averages.
- Most expensive gas price averages: Jackson ($3.24), Ann Arbor ($3.20), Saginaw ($3.18)
- Least expensive gas price averages: Traverse City ($3.07), Flint ($3.12), Marquette ($3.13)
